Venture Funding to Crypto Startups Declines
Venture funding to crypto startups is down significantly compared to last year, when it seemed like a new crypto unicorn was crowned every day. And the pace of fundraising by venture investors has cooled dramatically too.
Decline in Crypto Fund Launches
The first half of last year saw a string of big crypto fund launches. In March, Haun Ventures announced it raised $1.5 billion across two funds. That same month, Electric Capital said it raised $1 billion for two funds, a $400 million venture fund for making equity investments and a $600 million fund for investing in tokens, the latter of which the firm was able to rake in because of outsized interest for its venture fund, according to a person familiar with the fundraising. And Andreessen Horowitz debuted a $4.5 billion crypto fund last May.
